BlockBeats news, on June 4, Glassnode data showed that as Bitcoin briefly dropped to $61,300, the number of BTC in an unrealized loss state rose to approximately 10.5 million, surpassing the 9.8 million in a profit state for the first time, accounting for over half of the circulating supply. This marks the first time in this cycle that loss positions have exceeded profit positions.
Historical data shows that this indicator has only appeared during deep bear markets and has frequently coincided with major market bottoms. Similar conditions occurred during the bear markets of 2015, 2019, 2020, and 2022, though the duration varied from one month to one year.
Meanwhile, the price of Bitcoin has reached the 200-week moving average at approximately $61,300, a level that has historically served as a key long-term support during previous bear markets. Analysis suggests that if BTC falls below the $60,000 psychological level, the next significant support will be near the realized price of approximately $54,000—a level Bitcoin has previously broken during major bear markets.